HCS Preliminary Exam Commerce & Accountancy Question Paper : hpsc.gov.in

Name of the Organization : Haryana Public Service Commission
Name of the Exam : HCS (Ex.Br.) Preliminary Exam
Subject : Commerce & Accountancy
Document Type : Previous Question Paper
Year : 2014

Website : http://hpsc.gov.in/en-us/
Download Sample/Model Question Paper : https://www.pdfquestion.in/uploads/11222-Commerce.pdf

HCS Preliminary Exam Commerce & Accountancy Question Paper :

Time Allowed : Two Flours
Code : 06
Max.marks : 100

Related : HPSC  HCS Preliminary Exam Civil Engineering Question Paper : www.pdfquestion.in/11219.html

Instruction :
1. Use only BLUE Ball Point Pen.
2. In case of any defect – Misprint, Missing Question/s Get the booklet changed.
3. No complaint shall be entertained after the examination.
4. Before you mark the answer, read the instruction on the OMR Sheet (Answer Sheet) also before attempting the questions and fill the particulars in the ANSWER SHEET carefully and correctly.
5. There are FOUR options to each question. Darken only one to which you think is the right answer. There will be no Negative Marking.
6. Answer Sheets will be collected after the completion of examination and no candidate shall be allowed to leave the examination hall earlier.
7. The candidates are to ensure that the Answer Sheet is handed over to the room invigilator only.
8. Rough work, rt any, can be done on space provided at the end of the Question Booklet itself. No extra sheet will be provided in any circumstances.
9. Write the BOOKLET SERIES in the space provided in the answer sheet, by darkening the corresponding circles.
10. Regarding incorrect questions or answers etc. Candidates kindly see NOTE at the last page of the Booklet.

1. Provision for bad and doubtful debts is created in anticipation of actual bad debts on the basis of
(A) Conservatism concePt
(C) Full disclosure concept
(B) Going concern concePt
(D) Industry practice

2. Which accounting principle is violated by including personal expenses of the owner in the business exPenses?
(A) Cost principle
(B) Going concem concept
(C) Entity concept
(D) Conservatism

3. X,Y, Z are partners in a firm. If B is to be admitted as a new partner
(A) Old partnership has to be dissolved
(B) Old firm has to be dissolved
(C) Both old firm and partnership has to be dissolved
(D) Neither firm nor partnership need to be dissolved.

4. Indian Accounting Standard AS-10 is related to :
(A) Depreciation
(B) Accounting for Fixed Assets
(c) cash Flow
(D) Valuation of Inventories

5. In the absence of an agreement to the contrary, the partners:
(A) Are entitled for 6%o interest on their capitals, only when there are profits
(n; Ar. entitled for 9o/o interest on their capitals, only when there are profits
(C) Are entitled for interest on capital at the bank rate, only when there are profits
(D) Are not entitled for any interest on their capitals

6. New profit sharing ratio is calculated at the time of:
(A) Admission of a partner
(B) Retirement of a partner
(C) Death of a partner
(D) All of the above

7. A, B and C are three partners sharing profits and losses in the ratio of 4:3:2,D is admitted for l/10 share, the new ratio will be:
(A) 5:4:3:2
(B) 4:4:3:2
(C) 4:3:2:
(D) None of these

8. Sec. 37 of Partnership Act provides interest on the amount left by the retiring or deceased Partner at
(A) s%
(B) 6%
(C) Bank rate
(D) Prime lending rate

9. A, B, C and D are equal partners. A, B and D died together in a plane crash. This accident results in
(A) Dissolution of partnership
(B) Dissolution of firm
(C) Dissolution of firm as well as dissolution of partnership
(D) Neither dissolution of firm nor dissolution of partnership

10. On dissolution all assets are transferred to reaslisation account at :
(A) Book value
(B) Market value
(C) Cost or market value, whatever is less
(D) None of the above

11. Realisation account is a:
(A) Personal a/c
(B) Real a/c
(C) Nominata/c
(D) Memorandum a./c

12. Definition of a public company is given in the Indian Companies Act 1956 :
(A) Section 3 (l) (i)
(B) Section 3 (1) (ii)
(C) Section 3 (1) (iiD
(D) Section 3 (l) (iv)

13. Equity Shareholders are:
(A) Customers of the company
(B) Owners
(C) Creditors
(D) None of these

14. On an equity share of Rs. 10, the minimum amount of share application under the law should be
(A) Rs.0.50
(B) Re. I
(C) Rs.2
(D) Rs.2.50

15. When shares are forfeited, called up amount on shares is debited to:
(A) Forfeiture Account
(B) Capital Reserve Account
(C) General Reserve A/c
(D) Capital